Van ECK Associates Corp Sells 1,235,569 Shares of Core Scientific, Inc. $CORZ

Van ECK Associates Corp lowered its stake in shares of Core Scientific, Inc. (NASDAQ:CORZ) by 55.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 990,985 shares of the company’s stock after selling 1,235,569 shares during the period. Van ECK Associates Corp’s holdings in Core Scientific were worth $17,778,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. HHM Wealth Advisors LLC increased its holdings in shares of Core Scientific by 96.5% in the 2nd quarter. HHM Wealth Advisors LLC now owns 1,926 shares of the company’s stock valued at $33,000 after acquiring an additional 946 shares during the period. Osaic Holdings Inc. lifted its stake in shares of Core Scientific by 112.1% during the 2nd quarter. Osaic Holdings Inc. now owns 2,017 shares of the company’s stock worth $34,000 after purchasing an additional 1,066 shares during the last quarter. Advisors Asset Management Inc. boosted its position in Core Scientific by 68.3% during the second quarter. Advisors Asset Management Inc. now owns 2,690 shares of the company’s stock valued at $46,000 after purchasing an additional 1,092 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in Core Scientific by 396.8% during the second quarter. PNC Financial Services Group Inc. now owns 3,731 shares of the company’s stock valued at $64,000 after purchasing an additional 2,980 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its stake in Core Scientific by 61.9% in the second quarter. Russell Investments Group Ltd. now owns 3,942 shares of the company’s stock valued at $67,000 after purchasing an additional 1,507 shares during the last quarter.

Analyst Ratings Changes

A number of equities analysts have commented on CORZ shares. HC Wainwright reiterated a “buy” rating and issued a $25.00 target price on shares of Core Scientific in a report on Tuesday, March 3rd. Citigroup raised shares of Core Scientific from a “market perform” rating to an “outperform” rating in a research report on Thursday, December 18th. BTIG Research upgraded shares of Core Scientific from a “neutral” rating to a “buy” rating and set a $23.00 price objective for the company in a research note on Tuesday, January 6th. Keefe, Bruyette & Woods increased their target price on shares of Core Scientific from $19.00 to $25.00 and gave the company a “moderate buy” rating in a research report on Tuesday, January 27th. Finally, Citizens Jmp upgraded shares of Core Scientific from a “market perform” rating to an “outperform” rating and set a $30.00 target price for the company in a research note on Thursday, December 18th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.84.

Core Scientific Price Performance

NASDAQ CORZ traded up $0.39 during trading on Friday, hitting $16.63. The company’s stock had a trading volume of 2,753,459 shares, compared to its average volume of 11,682,200. Core Scientific, Inc. has a fifty-two week low of $6.20 and a fifty-two week high of $23.63. The company has a market cap of $5.24 billion, a PE ratio of 14.17 and a beta of 6.87. The business’s 50 day simple moving average is $17.37 and its 200-day simple moving average is $17.00.

Core Scientific (NASDAQ:CORZ) last posted its quarterly earnings data on Monday, March 2nd. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.69. The company had revenue of $79.76 million for the quarter, compared to analyst estimates of $118.45 million. The business’s revenue was down 16.0% compared to the same quarter last year. During the same quarter last year, the company earned ($0.69) EPS. Analysts expect that Core Scientific, Inc. will post 0.52 EPS for the current fiscal year.

Core Scientific Company Profile

Core Scientific, Inc (NASDAQ: CORZ) is a leading provider of large-scale blockchain infrastructure and digital asset mining services. The company develops, owns and operates high-performance data centers optimized for the mining of Bitcoin and other proof-of-work cryptocurrencies. In addition to its core mining operations, Core Scientific offers colocation, hosting and managed services designed to support institutional clients and enterprise users in deploying and scaling blockchain nodes and computing hardware.

Core Scientific’s service portfolio includes hardware procurement, deployment and maintenance, real-time monitoring, power management and network connectivity.